Air Arabia reports 34% increase in net profit for 1Q16

Air Arabia has reported a net profit of AED114 million for the three months ending 31 March 2016 (1Q16), 34% higher than the AED85 million reported for the same quarter the previous year.
The airline’s 1Q16 passenger numbers also increased by 17% year-over-year to over 2.1 million. Capacity grew with a new route from Air Arabia’s Sharjah hub to Sarajevo alongside three new routes from its operating hubs in Morocco and Jordan, but the carrier maintained a strong load factor of 81%.
During 1Q16, Air Arabia posted a turnover of AED946 million, a 7% increase on 1Q15.
Sheikh Abdullah Bin Mohamed Al Thani, chairman of Air Arabia, averred, “Air Arabia has made an excellent start to 2016, maintaining the momentum we established last year and attracting new customers to our brand. Our operational efficiency, allied to the success of our route expansion strategy and the popularity of our value-add service proposition, leaves Air Arabia well-placed to navigate the current macroeconomic challenges and benefit from the many opportunities in the region’s aviation sector.”

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